The figure given below shows the revenue and cost curves of a perfectly competitive firm. Figure 23.2
MC: Marginal cost curve
MR: Marginal revenue curve
ATC: Average-total-cost curve
AVC: Average-variable-cost curve
Refer to Figure 23.2.If the market price falls to $10, the firm would produce:
A) nothing.
B) 15 units.
C) 5 units.
D) 10 units.
E) 20 units.
Correct Answer:
Verified
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